Clause 3 - Amendment of section 2 - Finance Bill, 2010

CHAPTER III DIRECT TAXES Income-tax Amendment of section 2. 3. In section 2 of the Income-tax Act,— (a) in clause (15), after the proviso, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2009, namely:— "Provided further that the first proviso shall not apply if the aggregate value of the receipts from the activities referred to therein is ten lakh rupees or less in the previous year;"; (b) in clause (24), in sub-clause (xv), after the words, brackets and figures "value of property referred to in clause (vii)", the words, brackets, figures and letter "or clause (viia)" shall be inserted with effect from the 1st day of June, 2010.